Money flows into institutional traders check peak altcoins – Solana (SOL) stays the center of focus
Institutional demand for publicity to altcoins has risen to record highs, with altcoin’s market place share now accounting for 35% of the record-locked capital...
Institutional demand for publicity to altcoins has risen to record highs, with altcoin’s market place share now accounting for 35% of the record-locked capital in cryptocurrency investment goods.
While $ 97.eight million invested in mixed crypto investment goods from August thirty to September three marked the third consecutive optimistic week, $ 38.9 million was invested in altcoin goods.
About 35% of institutional capital is at present locked in asset trackers other than Bitcoin, such as a new check of May’s all-time highs.
Ethereum (ETH) monitoring goods led the altcoin bundle for the 2nd consecutive week, recording inflows of $ 14.four million, down sixteen.two% from $ 17.two million the former week.
Notably, weekly money flows for Solana (SOL) -primarily based goods greater 38%, with SOL goods grossing $ 13.two million. This coincides with a 37% maximize in SOL charges above the exact same time period.
– See extra: Solana reaches a new peak, dethroning Dogecoin as the seventh greatest cryptocurrency
Cash movement in Solana goods doubled yr-above-yr (YTD) final week, with $ 25 million invested in SOL instruments during 2021 to date. SOL-primarily based goods at present signify $ 44 million in complete assets below management (AUM).
Additionally, Bitcoin (BTC) investment goods ended their eight-week outflow trend, the longest ever streak for any crypto asset solution, just after attracting inflows of $ 58.9 million for the week.
– See extra: Bitcoin (BTC) Suddenly “jumped” to USD 52,000 – BTC develop-up is nevertheless incredibly powerful, surprising the offer you
Institutional wealth managers now account for a mixed complete AUM of $ 62.five billion, near to the record of $ 66 billion announced in mid-May. Grayscale continues to dominate the competitors, accounting for 73% of the industry’s mixed AUM of $ 46. two billion.
Synthetic currency 68
Maybe you are interested:
More From Crypto News
Robinhood Engineers Charged Over Alleged Crypto Listing Trades
Federal prosecutors in New York have charged two former Robinhood engineers with commodities fraud and wire fraud, alleging they traded Hyperliquid perpetual fu...
Software Flaw Let Nearly 4,000 BTC Leave Liquid Reserve
A software flaw in the Liquid Network allowed nearly 4,000 BTC to exit the platform’s reserve through a mechanism that the network’s own validation logic treate...
US Treasury Sanctions Iranian Crypto Exchange BitBank
The US Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned BitBank, an Iran-based cryptocurrency exchange, according to a Treasury press release.
XRP ETFs Hit 10-Week Green Streak as Solana Funds Lead
XRP exchange-traded funds have recorded net-positive weekly flows for 10 consecutive weeks, extending the longest sustained inflow streak among altcoin ETF prod...
Crypto Options Nearly Double Market Share as Derivatives Shift: Report
Crypto options have nearly doubled their share of Bitcoin derivatives open interest, according to a joint report from Glassnode and Bybit that maps how the stru...
Saylor Hints at More Strategy Bitcoin Buys After Fed Hike
Michael Saylor has signaled that Strategy may continue accumulating Bitcoin following the Federal Reserve’s latest rate increase. The remarks are a hint at inte...
